Rocket Pharmaceuticals (NASDAQ:RCKT) Posts Earnings Results, Misses Expectations By $0.02 EPS

Rocket Pharmaceuticals (NASDAQ:RCKT) posted its quarterly earnings results on Monday. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.02), Briefing.com reports. During the same quarter in the previous year, the business earned ($0.82) earnings per share.

Rocket Pharmaceuticals Trading Down 6.1 %

Shares of RCKT stock traded down $1.23 on Wednesday, hitting $18.90. The stock had a trading volume of 842,481 shares, compared to its average volume of 757,897. The company’s 50 day moving average price is $22.25 and its 200-day moving average price is $24.76. Rocket Pharmaceuticals has a 1 year low of $14.89 and a 1 year high of $32.53. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47. The firm has a market capitalization of $1.72 billion, a P/E ratio of -6.64 and a beta of 1.13.

Insider Activity at Rocket Pharmaceuticals

In related news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $20.39, for a total value of $61,700.14. Following the completion of the transaction, the insider now owns 72,220 shares in the company, valued at $1,472,565.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 9,790 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $228,596.50. Following the sale, the chief executive officer now owns 728,069 shares of the company’s stock, valued at approximately $17,000,411.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew White sold 3,026 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $20.39, for a total value of $61,700.14. Following the transaction, the insider now directly owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The disclosure for this sale can be found here. Insiders sold 15,755 shares of company stock worth $358,654 in the last three months. 31.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RCKT has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. Chardan Capital reaffirmed a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. Canaccord Genuity Group dropped their price target on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. William Blair reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.